Steiner Ranch Housing Report - August 2015
In this edition of “How’s the Market in Steiner Ranch,” I talk about the July stats and consider if the numbers are as phenomenal as they appear. Below the video, you can find the same information in chart and text formats.
To view summary and detailed sales information for all Steiner Ranch neighborhoods, check out the Neighborhood Home Sale Data section of my website. If you are looking to buy or sell a home in Steiner Ranch, contact me via email or at 512-650-7300. Previous editions of How’s the Market in Steiner Ranch are also available. If you prefer to read instead of watch, here are the chart and transcript.
Greetings! I’m Craig Smyser. Welcome to the August 2015 edition of “How’s the Market in Steiner Ranch.” This month I’ll take a look at the real estate market for the first half of the year.
In July, 36 homes closed in Steiner Ranch which was up 9.1% from July 2014. It is the highest number of homes sold in one month since August of last year. There were three homes that sold for over $1,000,000. To put that number in perspective, it is only the second time in the history of Steiner Ranch that we’ve had three homes sell in one month above the $1 million mark. As a result, the monthly numbers, which look great without these homes, become fantastic. The median price increased 33.7% to $561,500. The average price of a home increased 31.7% to $577,658. The average price per square foot increased by 10.8% to $156.73. Without the three higher sales, the median price was up 19%, the average price was up 17.8%, and the average price per square foot was up 4%. In order to get a better picture of the market, let’s look at a longer period of time by comparing the last six months to the corresponding six month period from last year. The number of homes sold was 168, down 11.6% from 2014. The median price of a resale home increased 3.2% to $449,450. The average price increased by 5.5% to $522,699. The average price per square foot increased by 2.4% to $153.91. This indicates the market is turning stronger as the summer market continues to move forward. Again, the market varies from price range to price range and is currently stronger in the entry level and high-end ranges.
The number of available resale homes at the beginning of July was 107, up 16.3% from last July. To be clear, that does not include homes that are under contract. Usually we start to see the inventory levels start to taper off at this time of year, but it remains around the highest levels of the year. I expect by next month, this number will be dropping as homes sell or are withdrawn from the market without selling and the number of new listings does not keep pace. When we look at the number of homes for sale versus the number that are currently under contract the $450,000 to $700,000 range is the area which needs the most improvement.
Across Steiner, the July sales ranged from a low of $298,900 to a high of $1,420,000. The average sales price to list price ratio was 98.7%. For homes that closed in July, the average days on market was 52. As always, my website allows you to look at summary and detailed data for each Steiner Ranch neighborhood. Simply go to RealEstateInAustin.com and click on the big red “Search Sold Data” button towards the bottom of the page. I say that every month, but you may wonder what I mean by it. For every neighborhood in Steiner Ranch, you can view the summary sales data for this month, this year, last year, etc. If you register, which is free, you can see the addresses, sales prices, bedrooms, baths, etc. for each house that closed. Valuable information for sure, so check it out.
Finally, the 6th Annual Kicking for Cash competition at Vandegrift High School will be held on Friday, August 28th during halftime of the football game. I’m the sole sponsor for this fantastic, fun event in which VHS students compete in a field goal kicking contest to win cash for their student organizations. Come out for a great evening of football, the marching band performance, and Kicking for Cash. More information is available at KickingForCash.com.
As always, if you have any real estate related questions, please don’t hesitate to contact me via email or at 512-650-7300. Thanks for reading “How’s The Market In Steiner Ranch.”
Statistics based upon information from ACTRIS for the periods cited.